Tue Nov 26 10:07:42 UTC 2024: ## NTPC Shares Dip 1.57% Amidst Broader Market Weakness

**Mumbai, November 26, 2024** – NTPC shares experienced a downturn today, closing at ₹362.85, a 1.57% decrease from the previous day’s closing price. This decline occurred despite a relatively stable broader market, with the Sensex falling a modest 0.1% to 80031.92.

The NTPC stock fluctuated between a high of ₹370.2 and a low of ₹362.5 throughout the trading day. Technical analysis reveals a bearish trend, with the stock trading below all short-term (5, 10, 20-day) and long-term (50, 100, 300-day) simple moving averages. Pivot point analysis indicates key resistance levels at ₹375.1, ₹381.0, and ₹384.8, while support levels lie at ₹365.4, ₹361.6, and ₹355.7.

Trading volume on the NSE and BSE was down 4.16% compared to the previous session. This lower volume, coupled with the negative price movement, suggests the potential for further price declines, according to Mint’s technical analysis.

Despite the negative share price movement, NTPC’s fundamentals remain relatively strong. The company boasts a Return on Equity (ROE) of 13.53% and a Return on Assets (ROA) of 4.38%. The Price-to-Earnings (P/E) ratio stands at 16.18, and the Price-to-Book (P/B) ratio is 2.12. Analysts predict a median 1-year upside of 22.09%, with a target price of ₹443.00.

Shareholding data reveals a 0.00% promoter holding, 17.46% mutual fund holding (down from 17.94% in June), and 18.59% foreign institutional investor (FII) holding (up from 17.67% in June).

While some of NTPC’s peers in the power sector also experienced declines, others saw gains, reflecting a mixed performance within the industry. The overall market trend was slightly negative, with the Nifty and Sensex indices down 0.01% and 0.1% respectively.

Read More